The Coca-Cola Company (NYSE:KO) Shares Sold by Natixis

Natixis cut its position in The Coca-Cola Company (NYSE:KO) by 44.1% during the second quarter, HoldingsChannel.com reports. The fund owned 736,340 shares of the company’s stock after selling 580,878 shares during the period. Natixis’ holdings in The Coca-Cola were worth $39,843,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of KO. OLD Mission Capital LLC acquired a new stake in shares of The Coca-Cola in the third quarter worth approximately $244,000. E Fund Management Co. Ltd. acquired a new stake in shares of The Coca-Cola in the 1st quarter worth $359,000. Quilter Plc raised its holdings in shares of The Coca-Cola by 4.1% during the 1st quarter. Quilter Plc now owns 730,570 shares of the company’s stock worth $38,508,000 after acquiring an additional 28,600 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of The Coca-Cola by 6.2% during the 1st quarter. Pinnacle Associates Ltd. now owns 147,260 shares of the company’s stock valued at $7,762,000 after acquiring an additional 8,538 shares during the last quarter. Finally, Harbour Investments Inc. purchased a new stake in shares of The Coca-Cola in the first quarter valued at about $193,000. 66.67% of the stock is currently owned by hedge funds and other institutional investors.

In other news, COO Brian John Smith sold 10,000 shares of the firm’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $55.65, for a total value of $556,500.00. Following the completion of the sale, the chief operating officer now owns 144,229 shares in the company, valued at approximately $8,026,343.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nancy Quan sold 6,625 shares of the stock in a transaction dated Tuesday, August 10th. The stock was sold at an average price of $57.08, for a total transaction of $378,155.00. Following the transaction, the senior vice president now directly owns 176,701 shares of the company’s stock, valued at $10,086,093.08. The disclosure for this sale can be found here. Insiders sold a total of 68,188 shares of company stock worth $3,864,107 over the last ninety days. Corporate insiders own 1.01% of the company’s stock.

KO stock traded up $0.09 during midday trading on Thursday, reaching $54.33. 29,872 shares of the company were exchanged, compared to its average volume of 15,688,121. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.25 and a current ratio of 1.47. The Coca-Cola Company has a 1-year low of $47.30 and a 1-year high of $57.56. The stock’s 50-day simple moving average is $55.35 and its 200 day simple moving average is $54.94. The company has a market cap of $234.25 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 2.85 and a beta of 0.62.

The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 20th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The Coca-Cola had a net margin of 22.19% and a return on equity of 44.17%. The company had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $9.30 billion. During the same quarter last year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. On average, research analysts anticipate that The Coca-Cola Company will post 2.25 earnings per share for the current year.

Several research firms recently issued reports on KO. UBS Group raised their price objective on shares of The Coca-Cola from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, July 22nd. JPMorgan Chase & Co. increased their target price on shares of The Coca-Cola from $56.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, July 22nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of The Coca-Cola from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, July 22nd. Argus raised their price objective on shares of The Coca-Cola from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, June 17th. Finally, Wells Fargo & Company raised their price objective on shares of The Coca-Cola from $62.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, July 22nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $61.25.

The Coca-Cola Profile

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

Further Reading: ESG Score

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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